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Housing market news

The home value index showing Melbourne’s housing prices surged 3% in July, with the city pulling further ahead of Sydney in annual price growth.


Melbourne residential prices increased nearly 16% in the past 12 months, while Sydney was up 12.4%.


Australia's housing affordability crisis is forcing younger generation to take extraordinary steps in order to enter the market. For example, the median house price in Adelaide is around $455,000 compared to Sydney's $900,000.


Australia’s biggest apartment builder Meriton has dropped prices for their new apartments by 5% over the past 12 months, saying demand is strong but the crackdown by the banking regulator has taken buyers out of the market.


Published: 03 August 2017